The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe
The present study aimed to clarify the risks that banks are exposed to in light of the Covid-19 pandemic, examine the impact of these risks on the quality of financial reports in banks, with an indication of how IFRS 9 can either exacerbate or mitigate these risk and its effects on the financial sta...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Wollongong
2023-07-01
|
| Series: | Australasian Accounting, Business and Finance Journal |
| Subjects: | |
| Online Access: | https://ro.uow.edu.au/cgi/siteview.cgi/aabfj/vol17/iss4/3 |
| _version_ | 1797780642714353664 |
|---|---|
| author | Ildikó Orbán Oday Tamimi |
| author_facet | Ildikó Orbán Oday Tamimi |
| author_sort | Ildikó Orbán |
| collection | DOAJ |
| description | The present study aimed to clarify the risks that banks are exposed to in light of the Covid-19 pandemic, examine the impact of these risks on the quality of financial reports in banks, with an indication of how IFRS 9 can either exacerbate or mitigate these risk and its effects on the financial statements of banks. Finally, provide some solutions to maintain capital adequacy and minimize pandemic risks to which some banks may be exposed. This study used the descriptive and
inferential statistics, as well as the questionnaire as a tool for collecting data. The analysis of data by using the statistical program SPSS 25 and Microsoft Excel. Three major findings are outlined in this study. First, there is a statistically significant relationship between Covid-19 pandemic and the increased risks to which banks are exposed based on the results of the tests of the hypotheses.
Second, there is a statistically significant relationship between IFRS 9 and the quality of the financial statements. Finally, there is a statistically significant relationship between IFRS 9 and bank risks during of the Covid-19 pandemic. The findings of this study are important for bank executives, auditors, and bodies that set standards for accounting and auditing. |
| first_indexed | 2024-03-12T23:46:57Z |
| format | Article |
| id | doaj.art-f2e204672c41472cacf87ab336eb6afd |
| institution | Directory Open Access Journal |
| issn | 1834-2000 1834-2019 |
| language | English |
| last_indexed | 2024-03-12T23:46:57Z |
| publishDate | 2023-07-01 |
| publisher | University of Wollongong |
| record_format | Article |
| series | Australasian Accounting, Business and Finance Journal |
| spelling | doaj.art-f2e204672c41472cacf87ab336eb6afd2023-07-14T06:10:53ZengUniversity of WollongongAustralasian Accounting, Business and Finance Journal1834-20001834-20192023-07-01174213610.14453/aabfj.v17i4.03The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in EuropeIldikó Orbán0Oday Tamimi1Department of Accounting, University of Debrecen, DebrecenDepartment of Accounting, University of Debrecen, DebrecenThe present study aimed to clarify the risks that banks are exposed to in light of the Covid-19 pandemic, examine the impact of these risks on the quality of financial reports in banks, with an indication of how IFRS 9 can either exacerbate or mitigate these risk and its effects on the financial statements of banks. Finally, provide some solutions to maintain capital adequacy and minimize pandemic risks to which some banks may be exposed. This study used the descriptive and inferential statistics, as well as the questionnaire as a tool for collecting data. The analysis of data by using the statistical program SPSS 25 and Microsoft Excel. Three major findings are outlined in this study. First, there is a statistically significant relationship between Covid-19 pandemic and the increased risks to which banks are exposed based on the results of the tests of the hypotheses. Second, there is a statistically significant relationship between IFRS 9 and the quality of the financial statements. Finally, there is a statistically significant relationship between IFRS 9 and bank risks during of the Covid-19 pandemic. The findings of this study are important for bank executives, auditors, and bodies that set standards for accounting and auditing.https://ro.uow.edu.au/cgi/siteview.cgi/aabfj/vol17/iss4/3ifrs 9covid-19 pandemicfinancial instrumentsfinancial reporting |
| spellingShingle | Ildikó Orbán Oday Tamimi The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe Australasian Accounting, Business and Finance Journal ifrs 9 covid-19 pandemic financial instruments financial reporting |
| title | The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe |
| title_full | The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe |
| title_fullStr | The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe |
| title_full_unstemmed | The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe |
| title_short | The Impact of IFRS 9 on Financial Reporting during Covid-19 from the Point of View of Experts in Europe |
| title_sort | impact of ifrs 9 on financial reporting during covid 19 from the point of view of experts in europe |
| topic | ifrs 9 covid-19 pandemic financial instruments financial reporting |
| url | https://ro.uow.edu.au/cgi/siteview.cgi/aabfj/vol17/iss4/3 |
| work_keys_str_mv | AT ildikoorban theimpactofifrs9onfinancialreportingduringcovid19fromthepointofviewofexpertsineurope AT odaytamimi theimpactofifrs9onfinancialreportingduringcovid19fromthepointofviewofexpertsineurope AT ildikoorban impactofifrs9onfinancialreportingduringcovid19fromthepointofviewofexpertsineurope AT odaytamimi impactofifrs9onfinancialreportingduringcovid19fromthepointofviewofexpertsineurope |